Procurement Faces More Challenges Than Ever: Exclusive Report

Global procurement professionals are facing more challenges than ever — tariffs, trade wars, environmental regulations and patent/IP protection. Fortunately, they are up to the task. Worldwide, electronics purchasing managers have an average of 16 years on the job, according to EPSNews’/Aspencore’s first global procurement study. They work more than 40 hours a week; spend a…

Flex Announces Lynn Torrel as Supply Chain Chief

Flex (NASDAQ: FLEX) today announced that Lynn Torrel has been named chief supply chain and procurement officer, responsible for direct and indirect materials, transportation and logistics, business operations, materials management, and strategic supply chain management. “Having a supply chain and procurement expert of Lynn’s caliber join our team will help Flex continue to innovate our…

The Trouble With Extroverted Execs (and the Upside of Introversion)

Extroverts command attention. They inspire confidence and always make a great first impression. That’s part of why ‘extrovert’ and ‘executive’ have become almost synonymous. There’s no denying that extroverts excel at winning over stakeholders. Recent research suggests, however, that charismatic, energetic extroverts might not always excel at driving results. A new study identifies a link…

Direct vs. Indirect Supplier Management: A Closer Look

Back in the day, when factories served as the templates for developing business processes, the distinction between direct and indirect procurement spending was pretty straightforward: direct spend was focused on the things that went into your product – raw materials, components, subcontracted manufacturing services, and so on. Indirect spend, which some have leeringly referred to…

High Tech Weighs Risks & Rewards of Moving Beyond China

Country-of-origin adjustments can help U.S. high-tech companies minimize geographical risks and mitigate the impact of tariffs. But the strategy can be costly, complicated and risky; and a decision that’s not easily undone. Tariffs are not going to just disappear, market experts say. Even with a delay on certain Chinese-import tariffs, the likelihood of a cease…

3 Ways Slow Approvals Drive Up Procurement Costs

Businesses increasingly rely on third-party vendors and contractors to supplement their workforce, expand their capabilities and serve customers. The benefits a company realizes as a result of leveraging a range of third-party vendors are undeniable, yet doing so doesn’t come without risk. If payments, agreements and approvals aren’t properly managed, the business can be at…

U.S.-China Trade War: Supply Chain Crisis or Opportunity?

Editor’s note on Special Project U.S.-China Trade War Damages Done: A permanent trade war with China has already thrust the supply chain in a mad scramble. Procurement costs have increased; partnerships have been severed; and companies have been forced to relocate manufacturing. Still, some companies see the conflict as a path toward differentiation President Trump’s…

RISC V, procurement

How Open Source Hardware Empowers Procurement

The advent of processors based the RISC-V Instruction Set Architecture (ISA) is not just exciting for engineers and designers—open source hardware benefits procurement, experts said. “Open source does two things for you: it rationalizes price and motivates adoption and investment,” explained Keith Witek, senior vice president, Corporate Development, Strategy, and General Counsel at SiFive, a…